Wooten & mcmahon enterprises produces a product with the following per-unit costs: direct materials $13.00 direct labor 8.80 manufacturing overhead 16.50 last year, wooten & mcmahon enterprises produced and sold 825 units at a sales price of $74.80 each. total selling and administrative expense was $24,200. what was the cost of goods sold last year? (note: round answer to two decimal places.)

COGS= $31,597.5

Explanation:

Giving the following information:

Direct materials $13.00

Direct labor 8.80

Manufacturing overhead 16.50

Last year, Wooten & McMahon Enterprises produced and sold 825 units

First, we need to calculate the cost of goods manufactured:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 0 + 13 + 8.8 + 16.5 - 0= $38.3

Total cost of goods manufactured= 825*38.3= $31,597.5

Now, we can calculate the cost of goods sold:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 0 + 31,597.5 - 0= $31,597.5

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